United Therapeutics Announces Closing Of License Agreement With Arena Pharmaceuticals For Ralinepag

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RESEARCH TRIANGLE PARK, N.C. - United Therapeutics Corporation (Nasdaq: UTHR) announced the closing of the transactions contemplated by its license agreement with Arena Pharmaceuticals, Inc. (Nasdaq: ARNA). Under the agreement, United Therapeutics acquired exclusive, worldwide rights to develop and manufacture the Phase 3 investigational drug candidate ralinepag, a next-generation, oral, selective and potent prostacyclin receptor agonist in development for the treatment of pulmonary arterial hypertension (PAH). Upon closing, United Therapeutics paid Arena $800 million. Arena is also entitled to potential milestone payments of up to $400 million based on the achievement of certain regulatory events as well as low double-digit tiered royalties on annual net sales of ralinepag products.

As previously announced, the closing of the transactions contemplated by the agreement was conditioned upon expiration or termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, among other conditions. The requisite waiting period expired on January 22, 2019, and closing occurred on January 24, 2019.

About United TherapeuticsUnited Therapeutics Corporation focuses on the strength of a balanced, value-creating biotechnology model. We are confident in our future thanks to our fundamental attributes, namely our obsession with quality and innovation, the power of our brands, our entrepreneurial culture and our bioinformatics leadership. We also believe that our determination to be responsible citizens – having a positive impact on patients, the environment and society – will sustain our success in the long term.

Through our wholly-owned subsidiary, Lung Biotechnology PBC, we are focused on addressing the acute national shortage of transplantable lungs and other organs with a variety of technologies that either delay the need for such organs or expand the supply. Lung Biotechnology is the first public benefit corporation subsidiary of a public biotechnology or pharmaceutical company.